National Energy Services ReunitedNESR -3.13%62 ROC (Joel Greenblatt) % is 30.35% as of Mar. 2026, which is 94% above its 10-year median of 15.68. GuruFocus rates NESR with a GF Score™ of 62/100 and a GF Value™ of $10.70 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,000 Oil & Gas companies, National Energy Services Reunited ranks better than 79.8% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. National Energy Services Reunited's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 30.35%.
The historical rank and industry rank for National Energy Services Reunited's ROC (Joel Greenblatt) % or its related term are showing as below:
NESR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -10.52 Med: 15.68 Max: 28.85
Current: 23.1
During the past 9 years, National Energy Services Reunited's highest ROC (Joel Greenblatt) % was 28.85%. The lowest was -10.52%. And the median was 15.68%.
NESR's ROC (Joel Greenblatt) % is ranked better than 79.8% of 1000
companies
in the Oil & Gas industry
Industry Median: 8.415
vs NESR: 23.10
National Energy Services Reunited (NAS:NESR) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
National Energy Services Reunited ROC (Joel Greenblatt) % Chart
NESR vs WTTR, TDW, AESI: ROC (Joel Greenblatt) % Comparison
For the Oil & Gas Equipment & Services subindustry, National Energy Services Reunited's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Energy Services Reunited ROC (Joel Greenblatt) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Energy Services Reunited's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where National Energy Services Reunited's ROC (Joel Greenblatt) % falls into.
National Energy Services Reunited ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 30.35% mean?
National Energy Services Reunited (NESR) has a ROC (Joel Greenblatt) % of 30.35% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on National Energy Services Reunited and its competitors. This is 94% above median its historical median of 15.68. According to the industry distribution chart, National Energy Services Reunited ranks #202 out of 1000 companies in the Oil & Gas industry, placing it in the top 20.2%.
Is National Energy Services Reunited's ROC (Joel Greenblatt) % too high?
National Energy Services Reunited's current ROC (Joel Greenblatt) % of 30.35% is 94% above median its 10-year median of 15.68. The Oil & Gas industry median ROC (Joel Greenblatt) % is 8.42. National Energy Services Reunited's value of 30.35% is 260.7% above this industry median. Based on the distribution chart, National Energy Services Reunited ranks #202 out of 1000 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, National Energy Services Reunited has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Energy Services Reunited's ROC (Joel Greenblatt) % compare to WTTR and TDW?
According to the Oil & Gas industry distribution chart, National Energy Services Reunited ranks #202 out of 1000 companies for ROC (Joel Greenblatt) %. This places National Energy Services Reunited in the top 20% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.42. National Energy Services Reunited's value of 30.35% is 260.7% above this benchmark. While the company's 10-year median is 15.68 vs. the industry median of 8.42, National Energy Services Reunited has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for an Oil & Gas company?
The median ROC (Joel Greenblatt) % among Oil & Gas companies is 8.42, based on 1,000 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Energy Services Reunited's current ROC (Joel Greenblatt) % of 30.35% is 260.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on National Energy Services Reunited and its competitors. For the Oil & Gas industry, the median ROC (Joel Greenblatt) % is 8.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Energy Services Reunited's current ROC (Joel Greenblatt) % is 30.35%, which is 94% above median its own 10-year median of 15.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Energy Services Reunited stock overvalued right now?
Based on GuruFocus' analysis, National Energy Services Reunited (NESR) is currently considered Significantly Overvalued. The stock's GF Value™ is $10.70, compared to a current price of $27.90 — trading 160.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 30.35%, which is 94% above median its 10-year median of 15.68 and 260.7% above the Oil & Gas industry median of 8.42. National Energy Services Reunited's overall GF Score™ is 62/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For National Energy Services Reunited (NESR), the current ROC (Joel Greenblatt) % is 30.35% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Energy Services Reunited (NESR) Overvalued in 2026?
Based on GuruFocus' analysis, National Energy Services Reunited stock appears to be overvalued.
The current stock price of $27.90 is trading 160.7% above its estimated GF Value™ of $10.70.
GuruFocus considers National Energy Services Reunited to be Significantly Overvalued.
Key valuation signals for NESR:
ROC (Joel Greenblatt) %: 30.35% (94% above median its 10-year median of 15.68)
GF Value™: $10.70 vs. price of $27.90 (160.7% above fair value)
Industry Position: 260.7% above the Oil & Gas median (#202 of 1000)
No single metric tells the full story. See the NESR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Energy Services Reunited Business Description
National Energy Services Reunited Corp is an oilfield services provider in the Middle East and North Africa (MENA) region serving oil and natural gas companies. It provides upstream and midstream oilfield services, including hydraulic fracturing, coiled tubing, stimulation and pumping, cementing, as well as drilling and evaluation services such as rigs, directional drilling, drilling and completion fluids, pressure control, and well testing. Its segments are Production Services, which includes services during the completion and production stages of a well's lifecycle and generates maximum revenue, and Drilling and Evaluation Services, which includes services related to drilling operations during the well construction stage. The majority of revenue is generated from the MENA region.
62GF Score
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